NEW YORK (TheStreet) -- "I wish it were time to buy" certain stocks such as Transocean (RIG) - Get Transocean Ltd. Report and Vince Holdings (VNCE) - Get Vince Holding Corp. Report -- but unfortunately, it's not, said TheStreet's Jim Cramer, co-manager of the Action Alerts PLUS portfolio.
Speaking during CNBC's "Cramer's Stop Trading" segment Tuesday, Cramer noted that shares of Vince Holdings slid 13% after reporting fiscal third-quarter earnings, despite beating on earnings per share and revenue estimates. Meanwhile, shares of Transocean have declined over 50% in the past three months, as oil prices have moved lower. Cramer noted the company may also have to cut its dividend payment.
"This is the kind of call that I just want to go with," even though the stock is at 52-week highs, he said. "I say, buy Stryker."
-- Written by Bret Kenwell
At the time of publication, Cramer's Action Alerts PLUS had no position in companies mentioned.